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133 Bobbin Cove Kyle, TX 78640

4 Beds 2 Baths 1,650 sqft Built 2004

$225,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $136.36
  • 6 Days on Market
  • MLS # : 7620141
  • Updated Date : 10/30/2020 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this must-see home in Kyle! This charming, 4 bed/2 bath home features an open floorplan perfect for entertainment, relaxation, and creating wonderful memories. The newly painted living room flows directly into the kitchen area, making it a perfect entertainment space. In addition, the kitchen is a cook's dream with tons of counter space, a center island, custom painted crowned cabinets with new hardware (white uppers/charcoal grey bottom), and pantry! The kitchen transitions directly to the backyard, featuring a 12X12 covered deck w/flagstone patio - a perfect space for outdoor entertainment. Inside, the spacious master suite features a walk-in shower, soaking tub, and walk-in closet for convenience and relaxation. This home also features an improved second bath with a new faucet, tile flooring, and 2 short walls with a beadboard. Lastly, this home provides tons of utility with the 4th bedroom, allowing it to function as a guest bedroom, office, work-out room, or game room. With all these features at such a great price, this home is sure to sell fast!

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MARKET HIGHLIGHTS

  • Austin metro contributes to 8.4% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 in U.S. Cities attracting the most workers and a preferred destination for job movers (LinkedIn, August 2018; Glassdoor May 2018 )
  • Austin metro economy is worth over $153 billion in Gross Metro Product and projected to grow to $162 billion in 2019 (USMayors.org, 2018)
  • #2 in Top 10 cities for entrepreneurs and start-ups (Business.org, 2018)
  • #3 on Best Cities for Renters (Smart Asset, July 2018)
  • #1 in 125 Best Places to Live in the USA (U.S. News, 2019)
  • Austin metro employment growth is at 3.4% and predicted to grow at 2.9% in 2019 (USMayors.org, 2018)
  • Companies with headquarters and major regional presence in Austin: Dell, Whole Foods, Apple, AMD, IBM, Flextronics, Google, Facebook, National Instruments, and Freescale Semiconductor. Apple announced an investment of $1 billion in a new 133-acre campus in Austin accommodating an additional 5,000 employees.
  • Austin metro has 70% labor force participation rate, one of the highest in the nation and higher than the national rate 62.8% (USMayors.org, 2018)
  • Austin ranks #7 in total venture capital deals flow with $1.84 billion venture funding flowing in to the metro in 2019, an increase of 19.5% from the previous year (Crunchbase News, 2020)

PRICE & RENT TRENDS

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$830
Property Tax -$518
Property Insurance -$120
Property Management Fees -$112
CASH FLOW
-$180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$566

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,400

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6754$1,7005$1,875
$1,875
RENT COMPS ANALYSIS
  • 133 Bobbin Cove Kyle, TX 1
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 358 Spring Kyle, TX 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 424 Ferrule Dr Kyle, TX 3
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2019
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
  • 322 Fall Drive Kyle, TX 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2011
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 1629 Arbor Knot Drive Kyle, TX 5
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2018
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.02
    •  
PROPERTY LISTING DETAILS
Allison Pflaum
1.512.434.0630
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7620141
Last Updated: 10/30/2020
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